Poonam Gupta- New Deputy Governor of RBI

Why in news?

The Government of India has appointed renowned economist Dr. Poonam Gupta as the new Deputy Governor of the Reserve Bank of India (RBI).
She took over the post on April 1, 2025 for a term of three years.
She replaced Michael Patra.

Key Points:

Dr. Gupta is the first woman in the last 14 years to be entrusted with this important responsibility.
In the 90-year history of RBI, only three women have been appointed as Deputy Governor so far:
- K.J. Udeshi (2003-2005)
- Shyamala Gopinath (2004-2009)
- Usha Thorat (2005-2010)
Dr. Gupta is the fourth woman to hold this post.
- She will be the first woman to head the monetary policy and economic and policy research departments of the RBI.

Currently she is the Director General of the National Council of Applied Economic Research (NCAER).
Also:
- She is a member of the Economic Advisory Council to the Prime Minister.
- She is also the Convenor of the Advisory Council of the 16th Finance Commission.

It is the central bank of India, established on 1 April 1935.
Its main objectives:
- To control the monetary policy of the country
- To control inflation
- To maintain financial stability
Its main functions:
- To monitor Indian banks
- To manage the Indian currency (rupee)
- To determine the interest rates for banks
- This affects economic growth and inflation
- To manage foreign exchange reserves
- To manage government bonds
- To maintain stability of the overall financial system of the country
- To maintain stability in the banking system; etc.